Expertise
/ How We Work
With
the recent increase in rules and regulations, employee-related
lawsuits and reliance on key resources, risk management
is becoming a management practice that is every bit as important
as financial or facilities management. At Pacific American
Risk, our risk management services help you to first identify
and then manage threats that could severely impact or bring
down your business or organization.
We
operate according to a carefully devised series of steps
Establishing
the Context
Establishing
the context involves:
•
Identification of risk in a selected domain of interest
• Planning the remainder of the process
• Mapping out the following:
 •
the social scope of risk management
•
the identity and objectives of stakeholders
•
the basis upon which risks will be evaluated, constraints
• Defining a framework for the activity
and an agenda for identification
• Developing an analysis of risks
involved in the process
• Mitigation of risks using available
technological, human and organizational resources
Potential
Risk Treatments
Once
risks have been identified and assessed, all techniques
to manage the risk fall into one or more of these four major
categories:
•
Avoidance (eliminate)
• Reduction (mitigate)
• Transfer (outsource or insure)
• Retention (accept and budget)
Ideal
use of these strategies may not be possible. Some of them
may involve trade-offs that are not acceptable to the organization
or person making the risk management decisions. Another
source, from the US Department of Defense, Defense Acquisition
University, calls these categories ACAT, for Avoid, Control,
Accept, or Transfer.
Click
here to review our comprehensive set of insurance/risk
management services.
For
more information, contact
us at any time. At Pacific American Risk, our only goal
is to work one on one with our clients to ensure that their
business is sufficiently protected from risks seen or unseen.
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